How to Get a Loan for Farm Supplies Wholesalers

Looking for commercial loans for farm supplies wholesalers? Talk to a banker who works with the SBA. This $280,000 farm supplies wholesalers loan was issued by a New Mexico bank.

This small business knew how to go about getting a business bank loan. Based in Texline, Texas, they applied for and were awarded an SBA-guaranteed loan in 2005. The lending bank was Farmers & Stockmens Bank, based in Clayton, New Mexico.

SBA Loan Borrower

COMPANY TYPE: FARM SUPPLIES
TEXLINE, TX 79087

SBA Loan Lender

FARMERS & STOCKMENS BANK
22 MAPLE ST
CLAYTON, NM 88415

SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This commercial loan was issued via the SBA 7a lending program.

SBA Loan Program Type

This loan was issued as a general business loan.

SIC Code

5191 - Farm Supplies

NAICS Code

422910 - Farm Supplies Wholesalers

Loan Approval Date

2/1/2005

Loan Approval Gross Amount

$280,000

Loan Approval from the SBA

Of the total $280,000 loan amount, the SBA guaranteed $210,000.

More Information on This SBA Loan

The borrower borrowed this money for a new business. This loan was not for a franchise. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the loan proceeds to add employees or retain any existing employees.

Start the Process for Getting an SBA Loan Today!

Don't forget. To get an SBA loan, you must apply for an SBA loan with a local or national bank, not with the SBA. The bank processes the loan and gives you the money, and the SBA simply guarantees a portion of the loan.

This firm was able to get an SBA loan -- a strong sign of business strength. Do you think you have what it takes to get an SBA loan too? The SBA can be a great solution for raising money quickly to start or grow a business. Your next step is to speak with a banker at an SBA approved bank.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Getting a Small Business Loan

Small Business Banks in Clayton, New Mexico

New Mexico SBA Banks